Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 3   Rural water use

Income Tax Assessment Act 1997

11   After paragraph 118-37(1)(g)

Insert:

(ga) a *water entitlement, to the extent that the CGT event happens because an entity *derives a *SRWUIP payment that is *non-assessable non-exempt income under section 59-65;

(gb) a *SRWUIP payment you derive that is non-assessable non-exempt income under section 59-65;